Beneva has published its annual impact statement in recognition of Earth Day, outlining the company’s environmental goals, actions taken in 2024, and new initiatives to promote sustainable practices.
The company highlighted its work in aligning insurance practices with broader sustainability objectives, particularly in relation to climate action and electric vehicle (EV) adoption.
Beneva has committed to achieving net-zero greenhouse gas emissions in its operations and investments by 2040, and across all activities by 2050. In support of these goals, the company reported a 33% reduction in emissions across eight office buildings in 2024 and a 47% drop in the carbon intensity of its general fund investments. More than 25% of its general fund is now directed toward green bonds, renewable energy projects, energy transition initiatives, sustainable buildings, and social infrastructure.
From a product standpoint, Beneva has launched an initiative targeting electric and plug-in hybrid vehicle owners. Policyholders participating in the program can select one of two environmental projects—Earth Day Canada’s Zero Emission Grant or Nature Québec’s En mode solutions nature—for the company to support, with up to $50,000 in total funding allocated. This offer is designed to promote environmentally responsible driving behaviours while linking insurance coverage with climate-focused outcomes.
In addition, Beneva is extending a pilot project started in 2023 in partnership with Carstar Saint-Hyacinthe, an auto body repair facility specializing in EVs. The project supplies driving schools with late-model EVs that have been involved in collisions, enabling new drivers to train on vehicles that reflect emerging technologies. The program will be expanded across all driving schools in Quebec later this year.
“As a mutual, Beneva wants to protect people and their future. We also want to do our part for the environment, and we will do so by positioning the planet as a stakeholder,” said Christelle Lim-Severe, Sustainability Practice Leader at Beneva.
The insurer also reported distributing $4.2 million to 200 community and institutional partners in 2024, further integrating its social impact priorities with its insurance mission.
